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2. Personal exemption - Wikipedia

   en.wikipedia.org/wiki/Personal_exemption

   Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations.

3. What Is the Tax Cuts and Jobs Act (TCJA)? - AOL

   www.aol.com/finance/tax-cuts-jobs-act-tcja...

   The Tax Cuts and Jobs Act of 2017 made major changes to individual and business tax code, particularly as pertains to deductions, depreciation, tax credits and expenses. For businesses, many of ...

4. Is Property Damage Due to Weather Disaster Tax Deductible? - AOL

   www.aol.com/property-damage-due-weather-disaster...

   Congress Temporarily Limited Who Can Deduct Through 2025. The 2017 Tax Cuts and Jobs Act (TCJA) narrowed the qualifying criteria to include only personal property damage resulting from federally ...

5. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   Standard deduction: Individuals get a deduction from taxable income for certain personal expenses. An individual may claim a standard deduction . For 2021, the basic standard deduction was $12,550 for single individuals or married persons filing separately, $25,100 for a joint return or surviving spouse, and $18,800 for a head of household.

6. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   The deduction disproportionately benefits wealthy and upper-middle class taxpayers living in areas with comparatively high state and property taxes. [2] [3] [4] The Tax Cuts and Jobs Act of 2017 signed into law by President Donald Trump put a $10,000 cap on the SALT deduction for the years 2018–2025. [5]

7. 5 tax deductions that could save you big bucks in 2017 - AOL

   www.aol.com/finance/2017-02-13-5-tax-deductions...

   Here are a few key deductions that could lower your tax burden this year. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 ...

8. Tax Cuts and Jobs Act - Wikipedia

   en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act

   For single filers, the standard deduction will increase from $6,350 to $12,000. About 70% of families choose the standard deduction rather than itemized deductions; this could rise to over 84% if doubled. The personal exemption is eliminated—this was a deduction of $4,050 per taxpayer and dependent, unless it is in an estate or trust. [19 ...

9. Tax deductions 2017: 50 tax write-offs you don't know about - AOL

   www.aol.com/article/finance/2016/11/30/tax...

   Learn about the top tax write-offs for 2016, from student loan deductions to gambling deductions -- and even safety deposit box rentals.